Haram com 2011 Th11 M m.com Www indow A C 571 VE 151 2018 1 1 1 More info Data tablo w SX 21 TOR . Wedste - 0 D Data table - $ 1,537 Cash Receivables Inventories 7,952 571 Accounts payable 1,756 Other liabilities 1,498 5223 Shareholders' equity 2.755 11,803 Total 2,314 Other assets Property, plant, and equipment 11,803 GA Total Print Done 1 a a. Peanut butter carried in inventory at a cost of $6 was sold for cash of $10 and on open account of $23, for a grand total of $33. b. Acquired inventory on account, $13. c. Collected receivables, $2. d. On May 2, used $84 cash to prepay some rent and insurance for 6 months. Havisham classifies prepaid expenses as Other Assets. e. Payments on accounts payable (for inventories), $6. f. Paid selling and administrative expenses in cash, $7. g. Prepaid expenses of $14 for rent and insurance expired in May. h. Depreciation expense of $2 was recognized for May. Print Done Requirements - X a 1. Prepare an analysis of Havisham's transactions, employing the balance sheet equation approach. Show all amounts in millions 2. Prepare a statement of earnings for the month ended May 31 and a balance sheet as of May 31. Ignore income taxes Print Done S S Abbreviations used: and A/R = Accounts receivable Iny = Inventory PPE Property, plant and equipment AVP = Accounts payable Liab = Liabilities = Shareholders' equity ish SE accoun .g equalort orie uarisacuori al a une. For uan nk. Abbrelations have been used in the heading of the Havisham Company's adual condensed balance sheet data for Apr 27 2011, follow (5 in millions) (Click the icon to view the data) The following summarizes a few transactions during May 2011 (5 in millions) (Click the icon to view the transactions) Read the requirements Requirement 1. Prepare an analysis of Havisham's transactions, employing the balance sheet equation approach. Show all amounts in millions Enter the events into Havisham Company's accounting equation one transaction at a time. For transaction a enter the sale on line at and the cost of the sale on line a2 Once you have entered all of the events into the accounting equation calculate the ending balance of each account (Leave any unused cells blank. Enter decreases in a minus sign or parentheses and leave any unused chilis blankaitarriston have been used in the heading of the table below) Assets Llabilities + Stockholders Equity Other Other AR Assets PPE SE Bal4/27 1.756 5.223 7.952 2.314 a1 11 22 - 33 Iny AJP Cash Lia 571 1537 1,498 2755 a2 Havisham Company's actual condensed balance sheet data for April 27, 2011, follow (s in millions) Click the icon to view the data) millions) The following nummarizes a few transactions during May 2011 (S in (Click the icon to view the transactions) Read the resultements Requirement 1. Prepare an analysis of Havisham's transactions, employing the balance sheet equation approach Show all amounts in millions Enter the events into Havisham Company's accounting equation one transaction at a time for transaction a, enter the sale on line at and the cost of the sale on line a2. Once you have entered all of the events into the accounting equation, calculate the ending balance of each account (Leave any unused cells blank Enter decreases with a minus sign or parentheses and leave any unused cells blank, Abbreviations have been used in the heading of tne table below.) Assets Llabilities - Stockholders' Equity Other Assets Bal 4/27 1.756 1.498 5,223 2,755 1,537 7.952 2.314 Other Lieb Cash AR Inv PPE AJP SE 571 33 a1 11 - 22 67 a2
